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Commercial Property Acquisition and Development
Property ownership. Ownership of the building in which a business operates is the best defense against displacement and rising rents. Ownership can be achieved through the purchase of an entire building or of a portion of a building as a retail or office condominium.
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The US Small Business Administration's (SBA) Section 504 loan program provides growing businesses with long-term loans, low down payments, and competitive fixed rate financing for major fixed assets, such as land and businesses. The Enhanced Business Information Center (e-BIC) provides monthly information sessions on the SBA 504 loan program.
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Facade improvements. The quality, design, and appearance of the building where a business is located and the signage announcing a business can also have a significant impact on the prominence and perception of the business. reSTORE DC provides assistance to neighborhood revitalization organizations on facade improvements for neighborhood commercial districts. The District Department of Housing and Community Development administers a facade improvement grant program.
Retail vacancies. The Washington DC Economic Partnership tracks and makes available a list of retail space opportunities in Washington DC.
Commercial Property Acquisition and Development Grant Program
The Commercial Property Acquisition and Development (CP-A&D) Program provides matching funding for nonprofit organizations to acquire, redevelop, or build commercial properties located anywhere in the District of Columbia. Individual for-profit businesses can be assisted by the funded non-profit organization. Over $900,000 in past CP-A&D grants has been awarded from applications in 2002-2004. CP-A&D is not currently accepting applications.
For additional information, please contact the office of reSTORE DC at (202) 741-0894 or via email.
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The Enhanced Business Information Center (e-BIC) provides DC entrepreneurs with training, workshops, consulting, and cutting edge computer software that help their businesses become successful.
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DC Main Streets
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